85 jobs axed at technology group

EIGHTY-five workers at an American technology company based at Trafford Park are being made redundant as the group “streamlines its European manufacturing network”.

Photronics said that while it plans to keep its customer support and data centre open to ensure “seamless customer transactions”, it will cease the manufacturer of photomasks, which are used in semiconductors, in Manchester.

Photronics, which arrived in the city in the mid-1990s, blamed competition from the Asian markets.

The Connecticut-based group, which is listed on Nasdaq, added that it expects to recoup the closure costs of between $3m and $5m within 12 months.

Photronics chairman, Constantine Macricostas, said:  “The European semiconductor landscape continues to change as segments of our customer base become more reliant on Asian foundries for IC manufacturing. 

“Our plan to streamline the company’s European manufacturing network is a significant step in our strategy to return Photronics to profitability.

“Finally, we want to acknowledge the dedication and efforts of our Manchester employees and thank them for their contributions to the company.”